A revealing article behind tax cuts for the wealthiest.
Comments »Monthly Archives: February 2012
FLASH: RICK SANTORUM WARNS AMERICA ABOUT SATAN’S ATTACK!
via Drudgereport.com
SANTORUM’S SATAN WARNING
Tue Feb 21 2012 09:27:20 ET
“Satan has his sights on the United States of America!” Republican presidential hopeful Rick Santorum has declared.
“Satan is attacking the great institutions of America, using those great vices of pride, vanity, and sensuality as the root to attack all of the strong plants that has so deeply rooted in the American tradition.”
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The former senator from Pennsylvania warned in 2008 how politics and government are falling to Satan.
“This is a spiritual war. And the Father of Lies has his sights on what you would think the Father of Lies would have his sights on: a good, decent, powerful, influential country – the United States of America. If you were Satan, who would you attack in this day and age?”
“He attacks all of us and he attacks all of our institutions.”
Santorum made the provocative comments to students at Ave Maria University in Florida.
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The White House contender described how Satan is even taking hold of some religions.
“We look at the shape of mainline Protestantism in this country and it is in shambles, it is gone from the world of Christianity as I see it.”
Developing…
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Amazon.com (NASDAQ:AMZN): Lowering to Equal-weight – Morgan Stanley
Comments »Morgan Stanley, the uber bull of Amazon.com (NASDAQ:AMZN) is cutting their rating to Equal-Weight from Overweight with a $190 PT (down $30).
– Firm says they would be buyers of the stock at levels closer to $150 (~1x 2012E Net Sales) or toward the end of the more challenging year ahead.
Deron Williams Makes Jeremy Lin his Bitch
Today’s Money Flows
ISSUE GAINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Apple AAPL NASD 505.88 +80.5 1.18
iShrs MSCI Emerg Mkts EEM ARCA 43.87 +77.1 8.92
General Electric GE NYSE 19.42 +19.6 2.01
Coca-Cola KO NYSE 68.66 +19.5 3.26
Caterpillar CAT NYSE 114.64 +18.5 1.75
ConocoPhillips COP NYSE 73.65 +17.2 2.24
Chevron CVX NYSE 107.74 +15.5 1.84
Cisco Systems CSCO NASD 20.35 +15.2 2.45
Wells Fargo WFC NYSE 31.09 +14.4 2.89
Oracle ORCL NASD 28.62 +12.8 2.96
Lowe's Cos LOW NYSE 27.84 +11.4 1.94
PwrShs DB Com Track DBC ARCA 28.95 +10.9 19.92
Pfizer PFE NYSE 21.20 +10.7 2.42
Sel Sec SPDR-Hlth Cr XLV ARCA 36.09 +9.4 3.43
SPDR S&P MidCap 400 ETF MDY ARCA 178.65 +9.1 1.93
Kraft Foods KFT NYSE 38.47 +9.1 2.02
Verizon Communications VZ NYSE 38.61 +9.0 3.35
Transocean RIG NYSE 49.11 +8.9 1.26
Mastercard MA NYSE 396.41 +8.9 1.87
Chesapeake Energy CHK NYSE 24.82 +8.7 1.73
ISSUE DECLINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Bank Of America BAC NYSE 8.02 -28.7 0.55
Chipotle Mexican Grill CMG NYSE 382.45 -25.9 0.45
iBoxx InvesTp Inv Grde Bd LQD ARCA 116.26 -24.3 0.21
Microsoft MSFT NASD 31.22 -23.9 0.49
ExxonMobil XOM NYSE 86.18 -21.6 0.49
Weatherford Intl WFT NYSE 15.62 -20.7 0.63
Intel INTC NASD 27.20 -19.9 0.49
Google GOOG NASD 613.72 -16.4 0.90
Johnson & Johnson JNJ NYSE 64.87 -16.2 0.37
Novartis ADS NVS NYSE 57.09 -15.0 0.30
IBM IBM NYSE 193.00 -15.0 0.60
PwrShrs QQQ Tr Series 1 QQQ NASD 63.50 -13.8 0.64
iShrs MSCI S Korea EWY ARCA 59.06 -13.6 0.15
Qualcomm QCOM NASD 62.72 -13.2 0.53
Wynn Resorts WYNN NASD 120.73 -12.4 0.88
United Technologies UTX NYSE 83.43 -11.3 0.34
McDonald's MCD NYSE 100.14 -11.2 0.52
Anadarko Pete APC NYSE 85.87 -11.0 0.62
JPMorgan Chase JPM NYSE 38.54 -9.5 0.61
Life Technologies Cp LIFE NASD 46.98 -9.4 0.61
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52 Week Highs and Lows
NYSE
New Highs 94 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ AAG Hldg 7.5% Deb 11/5/33 GFW 25.83 1,108 Acuity AYI 61.99 10,464 Amer Fincl Grp AFG 38.17 52,261 Amer Vanguard AVD 16.93 18,539 Ameriprise Finl 7.75% Nts AMPpA 29.49 5,388 Anheuser Busch BUD 65.82 49,689 Armstrong Wrld Ind AWI 51.49 32,928 Assurant AIZ 44.38 26,680 Aviva PLC Sub Cap Secs AVV 26.45 11,604 BB&T Corp BBT 30.40 353,722 Barnes Group B 28.35 167,601 Bonanza Creek Energy BCEI 18.20 37,136 Brinker Intl EAT 28.60 83,355 Brookfield Infrastructure BIP 29.93 178,307 CH Energy Group CHG 66.40 553,892 CPFL Energia ADS CPL 32.40 47,070 Campus Crest Communities CCGpA 25.75 500 Cedar Fair LP FUN 28.62 49,127 Cervecerias Compania CCU 70.89 23,528 Chicago Bridge & Iron CBI 45.86 165,832 Citizens Fdg Tr I 7.50% CTZpA 25.77 200 CommonWealth REIT Pfd E CWHpE 25.38 4,885 Sel Asst CorTS JC Pen Tr JBR 24.99 2,900 Sel Asset CorTS JC Penney JBN 25.00 2,000 Credicorp BAP 123.40 28,264 Crown Castle Intl CCI 51.64 227,646 Drdgold Limited ADS DRD 7.91 39,787 DTEEnCo.Series6.50% DTZ 27.79 4,198 Delphi Automotive DLPH 32.98 331,118 Doubleline Oppor Credit DBL 26.71 6,634 Enduro Royalty Trust NDRO 22.02 7,860 Entergy Louis 1 Mtg Bd ELA 27.90 806 Equity One EQY 20.31 30,313 F M C Corp FMC 97.78 61,455 Fst Niagara Finl Pfd B FNFGpB 27.90 12,117 First Republic Bk Pfd A FRCpA 25.33 26,755 Ford Motor 7.5% Nts FpA 27.66 9,391 Franklin Universal FT 6.95 8,535 HBFuller FUL 30.98 33,659 Genesis Energy GEL 30.79 40,557 Global Cash Access GCA 5.70 23,163 Goodrich Corp GR 125.93 67,775 John Hancock Pfd Inc III HPS 18.59 29,193 Harman Intl Indus Inc HAR 51.76 84,405 Holly Energy Partners HEP 63.76 10,500 Home Depot HD 48.07 5,148,482 Hornbeck Offshore HOS 40.55 94,016 Inergy Midstream LP NRGM 21.95 17,866 JPMorgan Chase Cap XVI JPMpP 25.74 4,133 Kayne Anderson Engy Dev KED 24.22 23,824 Kilroy Realty KRC 44.20 44,740 Lorillard Inc LO 129.66 294,034 Lowe's Cos LOW 28.46 4,253,011 MFS Charter MCR 9.72 23,770 MSC Indust Direct MSM 81.22 11,351 Macy's Inc M 37.76 2,191,865 Magellan Midstream MMP 72.00 21,757 Main Street Capital MAIN 23.49 25,355 Miss Pwr 5.625% Nts E MPJ 27.20 828 MS Income Secs ICB 18.09 3,725 Movado Group MOV 20.71 7,241 Neenah Paper NP 26.65 12,441 Newcastle Inv 9.75% B NCTpB 25.58 400 Novo Nordisk NVO 139.90 27,495 ONEOK Partners OKS 60.74 61,037 Ocwen Fincl OCN 15.73 40,361 PVH Corp. PVH 83.50 54,573 Prestige Brands Hldgs PBH 16.78 2,510,037 Prudentl 6.5% Perp Sub Cp PUKpA 25.92 5,178 Public Str Dep. pfd. Z PSApZ 26.24 436 Rlty Incm Monthly Pfd OpF 25.11 23,537 Regency Energy Partners RGP 27.40 73,669 RenaissanceRe Hldgs 6.08% RNRpC 25.87 7,096 Rex American Resources REX 30.30 17,707 Sally Beauty Hldgs SBH 23.80 64,681 Sanchez Energy SN 22.38 53,573 STRNS Cummins Eng 7.375% HJT 26.68 4,389 SeaDrill SDRL 40.10 455,959 Sherwin-Williams SHW 100.77 58,088 AO Smith AOS 47.08 29,991 Standard Motor SMP 25.17 36,042 Sturm Ruger RGR 44.94 39,550 Targa Resources TRGP 44.59 10,497 Targa Resources Partners NGLS 41.30 23,626 Teledyne Tech TDY 62.29 18,498 Thomas & Betts TNB 72.18 155,740 Toll Brothers TOL 24.21 351,959 Torchmark TMK 48.98 92,828 US Bncp Dep Pfd Perp F USBpM 26.35 15,945 Ultrapar Participaco UGP 22.00 22,115 UnitedHealth Group UNH 55.45 1,770,437 Vulcan Materials VMC 48.09 41,949 Wells Fargo Cap IX 5.625% JWF 25.73 5,984 YUM! Brands YUM 65.89 280,865 New Lows 1 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ LEH 3.5% TRUCs GS 2004-6 JBK 19.70 2,874
NASDAQ
New Highs 52 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Adams Golf ADGF 8.13 16,750 Align Technology ALGN 27.75 137,385 Altisource Ptfl Sol SA ASPS 59.94 43,456 America's Car-Mart CRMT 48.24 3,907 Annapolis Bancorp ANNB 4.59 542 Ascena Retail Group ASNA 38.54 85,179 Astec Industries ASTE 40.68 80,945 BSB Bancorp BLMT 11.75 200 China TransInfo Tech CTFO 5.20 102,912 Cincinnati Fincl CINF 35.82 92,001 Cintas CTAS 39.00 107,000 Cracker Barrel CBRL 57.94 146,418 Dollar Tree DLTR 89.98 203,609 eBay EBAY 35.33 1,744,518 Electro Rent ELRC 18.93 2,256 Garmin GRMN 45.49 373,160 Gladstone Comml Ser B GOODO 25.60 100 Global X NASDAQ 500 QQQV 28.12 610 Golar LNG Partners LP GMLP 38.90 17,999 GRAVITY Co ADS GRVY 3.04 204,165 Great Wolf Resorts WOLF 3.68 6,285 HomeStreet HMST 51.78 407 ID Systems IDSY 6.47 8,511 Mantex Intl MNTX 6.87 17,403 Mediware Info Sys MEDW 15.25 30,341 Mesa Laboratories MLAB 51.05 912 NewsCorp B NWS 20.38 164,792 On Assignment ASGN 14.34 49,548 Pharmacyclics PCYC 26.73 408,327 Preferred Bank PFBC 10.37 2,100 pricelinecom PCLN 593.00 146,273 Primoris Services PRIM 17.10 66,622 Qualcomm QCOM 62.92 1,563,053 Remark Media Inc MARK 7.51 5,950 Rockville Fincl RCKB 11.64 1,229 Russ SmCp Aggressive Gwth SGGG 64.27 255 Saba Software SABA 12.36 29,004 Simulations Plus SLP 4.36 4,269 Steven Madden SHOO 43.92 295,445 Student Transportation STB 7.50 66,022 Sunshine Heart SSH 15.50 220 Synopsys SNPS 30.50 59,487 Threshold Pharmaceuticals THLD 6.65 6,688,401 Tower Fincl TOFC 12.60 5,275 Union First Mkt Bankshs UBSH 14.65 5,773 Unvsl Bus Pay Sol Acqn UBPS 9.66 2,100 Urologix ULGX 1.71 19,628 Vanguard Russ 1000 Growth VONG 65.52 30,303 vitacost com Inc VITC 7.25 22,948 WSB Hldgs WSB 4.60 10,570 Westport Innovations WPRT 47.38 448,990 Zoll Medical ZOLL 74.75 36,827 New Lows 7 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ AspenBio Pharma APPY 0.60 69,553 Chelsea Therapeutics Intl CHTP 2.87 1,776,272 China Grwth Eqty Invt Ltd CGEIU 9.80 100 China Yida Hldg Co CNYD 1.56 13,176 Codexis CDXS 3.70 547,479 D Medical Industries DMED 0.62 4,182 Energy Conversion Devices ENER 0.17 3,258,293Comments »
Today’s Heat Map and the S&P A/D Line
Most Active Options Trades
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE APC 3/17/12 90.0000 4923 1.3700 dn 0.9200 CIEN 3/17/12 17.0000 2715 0.7200 dn 0.4300 UNH 9/22/12 55.0000 2146 4.1000 up 0.1000 CSCO 3/17/12 21.0000 2041 0.1700 dn 0.0100 AAPL 2/24/12 510.0000 2031 5.4600 up 0.2100 SWC 3/17/12 13.0000 1726 1.2500 up 0.1000 CAT 2/24/12 115.0000 1452 1.0000 up 0.0900 AAPL 2/24/12 505.0000 1388 7.7000 up 0.5000 GE 3/17/12 20.0000 1382 0.1500 up 0.0200 BAC 3/17/12 8.0000 1327 0.3500 dn 0.0200 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE HD 3/17/12 45.0000 1849 0.2900 dn 0.3400 BAC 2/24/12 8.0000 1733 0.1200 dn 0.0200 BAC 3/17/12 8.0000 1346 0.3400 dn 0.0400 MDT 3/17/12 39.0000 1118 1.1000 up 0.3600 UNTD 3/17/12 5.0000 1000 0.1500 up 0.0500 DELL 3/17/12 17.0000 837 0.3100 dn 0.0200 CORT 3/17/12 5.0000 833 0.7500 dn 1.7000 BAC 5/19/12 7.0000 816 0.3600 dn 0.0200 AAPL 2/24/12 500.0000 792 5.0100 dn 2.4900 INTC 3/17/12 27.0000 789 0.5000 up 0.0800 -VOLUME- CALLS PUTS TOTAL 346392 279718 626110
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE AAPL 2/24/12 515.0000 256 3.9000 up 0.3700 MMR 3/17/12 15.0000 247 0.9500 up 0.0500 MCD 4/21/12 105.0000 215 0.5200 up 0.0000 TLT 3/17/12 120.0000 172 0.4300 dn 0.2200 BAC 2/24/12 8.0000 170 0.1300 dn 0.0200 AAPL 2/24/12 505.0000 137 8.0000 up 0.8000 DELL 3/17/12 18.0000 117 0.8200 dn 0.0100 NOK 3/17/12 6.0000 100 0.1400 up 0.0200 BAC 3/17/12 9.0000 100 0.0700 dn 0.0100 RIMM 6/16/12 15.0000 100 2.1800 up 0.0100 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE ABX 3/17/12 47.0000 286 1.2000 dn 0.2900 AAPL 2/24/12 500.0000 114 5.2500 dn 2.2000 RIMM 2/24/12 15.0000 110 0.2900 dn 0.0800 HIG 3/17/12 21.0000 91 0.8300 dn 0.0400 MDT 3/17/12 40.0000 88 1.4800 dn 0.0200 RSH 3/17/12 7.0000 70 0.2600 up 0.0500 AAPL 2/24/12 485.0000 66 1.4500 dn 1.0000 FCX 3/17/12 40.0000 55 0.5300 dn 0.2100 HD 3/17/12 44.0000 51 0.1500 dn 0.3000 IBM 2/24/12 190.0000 50 0.2800 dn 0.1400 -VOLUME- CALLS PUTS TOTAL 16586 18392 34978Comments »
Investing in Washington D.C.
Sub Prime Investments are Attractive Once Again
Amazing: 30k Year Old Flower Revived
State of the Union: A New Era for Baby Boomers
Spectrum Crunch is Upon Us
“The U.S. mobile phone industry is running out of the airwaves necessary to provide voice, text and Internet services to its customers.
The problem, known as the “spectrum crunch,” threatens to increase the number of dropped calls, slow down data speeds andraise customers’ prices for cell phone service. It will also whittle down the nation’s number of wireless carriers and create a deeper financial schism between those companies that have capacity and those that don’t.
There are potential solutions, but none are inexpensive, easy to implement, or catch-all. And no major fixes are on the horizon.
The U.S. still has a slight spectrum surplus at the moment. But at our current growth rate, that surplus turns into a deficit as early as next year, according to the Federal Communications Commission’s estimates.
“Network traffic is increasing, driving up demand for mobile broadband,” says an official at the FCC’s wireless bureau. “Carriers are doing things to offset the increase in demand. They can manage it for the next couple years, but demand is inevitably going to exceed the available spectrum.”
As smartphone and tablet sales soar, customers’ consumption of wireless Internet services is skyrocketing. The issue is that wireless spectrum — the invisible infrastructure over which all wireless transmissions travel — is a finite resource. When, exactly, we’ll hit the wall is the subject of intense debate, but almost everyone in the industry agrees that a crunch is coming.
How did we get here?…”
Comments »Mike Breard: Brent Crude Could Hit $140 a Barrel
“Tensions with Iran have been pushing oil prices up over $100 a barrel and it won’t take a full-blown war to send them much higher, possibly to $140 a barrel, says Mike Breard, an oil and gas analyst at Hodges Capital in Dallas.
Oil futures are skyrocketing thanks to Iranian tension, with U.S. crude futures hovering over $102 a barrel and Brent futures, which drive European markets, at around $118.
Brent and U.S. futures historically trade at a much narrower spread, and many analysts expect that gap to narrow as the U.S. economy improves.
The West has been slapping fresh sanctions on a defiant and nuclear-ambitious Iran, which is taking steps to cut off oil supply and even threatened to close down the Strait of Hormuz, a key waterway for the world’s oil industry.
With nerves on edge and the Strait of Hormuz crawling with edgy warships and oil tankers, a messy encounter would be enough to send oil skyrocketing.
“All that has to happen is for a tanker to hit a mine and the prices will be jumping,” says Breard, according to the Christian Science Monitor.
“A lot of people are afraid of oil rising to $140 a barrel.”
Comments »Jim Bianco: Fed Policy Is Really Just Counterfeiting Read more: Jim Bianco: Fed Policy Is Really Just Counterfeiting
“The Federal Reserve has purchased $2.3 trillion in assets from banks to flood the economy with liquidity and drive down interest rates in order to stimulate the pace of economic recovery.
Under such policy, known as quantitative easing, the Fed goes in and buys assets like Treasury instruments or mortgage-backed securities from the banks, crediting those banks’ reserve accounts with the funds, in what critics says is basically money printing.
“The ability of the Fed to increase the amount of money in banks’ reserve accounts; that’s what most people mean when they talk about money printing and that’s under the direction of the Fed,” says Jim Bianco, president of Bianco Research, according to The Daily Ticker, a Yahoo! news venue…..”
Comments »Trump: Gasoline to Hit $7 a Gallon This Year
Dennis Gartman: Greece Deal Will Only Last Until Next Election
“Greece’s purported deal with its creditors will last only until a new government takes over following the spring elections, hedge fund manager Dennis Gartman said Tuesday.
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CNBC
Dennis Gartman
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While investors hoped the deal, valued at 130 billion euros ($172 billion) would bring stability to the debt-plagued nation, Gartman said the provisions — particularly those focused on reducing the ratio of debt to gross domestic product ![[cnbc explains]](http://ibankcoin.com/news/wp-content/imagescaler/b095857bc35684a1ecf9bbc7c44ce936.gif){kind=small}
, as well as the austerity measures imposed on Greece — have little chance of being met.
“All the authorities have been able to do is delay default by a few weeks, perhaps a few months at best,“ Gartman wrote in his investor newsletter. “Greece will default, but perhaps not under the present government in power.”
Sharp cuts in the minimum wage, health care, and pensions, among other things, never will be tolerated in the Greek street, he added. Greeks go to the polls in two months to decide their government’s future. Recent polls show leftist parties opposing the bailouts rising in popularity.
“A new government is going to come to power following elections that shall take place sometime this spring, and if anyone anywhere believes that the next Greek government shall do anything other than abrogate all the agreements made with the ‘troika,’ then we have a bridge we’d like to sell them at a very high price,” Gartman said….”
Comments »Macy’s Beats the Street by a Nickle
Upgrades and Downgrades This Morning
ABB Limited (NYSE: ABB) Cut to Equal Weight at Morgan Stanley.
Asbury Automotive Group, Inc. (NYSE: ABG) named as Value stock of the day at Zacks.
Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) Raised to Outperform at Credit Suisse.
B&G Foods Inc. (NYSE: BGS) reinstated as Neutral at Credit Suisse.
CSX Corp. (NYSE: CSX) Cut to Neutral at JPMorgan.
Gilead Sciences Inc. (NASDAQ: GILD) Cut to Equal Weight at Barclays.
ImmunoCellular (NASDAQ: IMUC) named Bull of the Day at Zacks.
Infosys Limited (NASDAQ: INFY) Cut to Neutral at Credit Suisse.
Itron, Inc. (NASDAQ: ITRI) Cut to Neutral at Credit Suisse.
KLA-Tencor Corporation (NASDAQ: KLAC) Cut to Neutral at JPMorgan.
Lam Research Corporation (NASDAQ: LRCX) Cut to Neutral at JPMorgan.
NextEra Energy Inc. (NYSE: NEE) Reiterated Buy at Argus.
Norfolk Southern Corp. (NYSE: NSC) Cut to Neutral at JPMorgan.
Oracle Corporation (NASDAQ: ORCL) Cut to Market Perform at JMP Securities.
Willis Group Holdings (NYSE: WSH) named Bear of the Day at Zacks.
U.S. Equity Preview: WYNN, RIG, HPQ, EXPGY, GLW, CORT, CDXS, & AAPL
Apple Inc. (AAPL) : HTC Corp. lost a patent-infringement claim against the world’s largest technology company at the U.S. International Trade Commission, the first of the Taiwanese handset maker’s cases targeting the iPhone.
Codexis Inc. (CDXS) : Alan Shaw resigned as president and chief executive officer of the company, which makes enzymes used in producing drugs. He will continue to serve as an adviser to the board. The board appointed Peter Strumph, business head of pharmaceuticals, as interim CEO.
Corcept Therapeutics Inc. (CORT) : The specialty drug company that hasn’t generated revenue since 2009 won approval for its leading product candidate, a treatment that uses the active ingredient of the abortion pill RU-486 to treat Cushing’s Syndrome.
Corning Inc. (GLW) : The largest maker of glass for flat- panel television sets is poised to rebound to $20 in two to three years as it cuts excess capacity and focuses on the growing smartphone and tablet markets, Barron’s reported in its “The Trader” column, citing Alan Lancz of Alan B. Lancz & Associates.
Experian Plc (EXPGY) : Experian’s U.S.-traded shares are poised to rise 20 percent or more during the next year as the credit-report provider’s expansion in Latin America boosts earnings, Barron’s reported.
Hewlett-Packard Co. (HPQ) : The outlook for the world’s largest personal computer maker is still unclear as Chief Executive Officer Meg Whitman tries to turn it around by changing the corporate culture and boosting research and development expenditure, Barron’s reported.
Transocean Ltd. (RIG) : The world’s biggest operator of offshore drilling rigs said it won’t recommend a dividend payment at its 2012 annual shareholder meeting.
Wynn Resorts Ltd. (WYNN) : Japanese billionaire Kazuo Okada’s Universal Entertainment Corp. (6425 JP) said it will take legal action after Wynn Resorts, a casino operator, forcibly redeemed Universal’s stake at a 31 percent discount and accused Okada of improper payments.
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